Military Rule In Nigeria - In the early hours of January 15, 1966, Nigeria witnessed the first military coup led by Major Chukwuma Nzeogwu and other majors in the army. It was a bloody military intervention in the political history of...
This article deals primarily with the political parties of the First, Second, Third and Fourth Republics of Nigeria. Unlike the nationalist parties of the colonial era whose primary objective was decolonisation, the overriding objective of the post-independence parties was to win...
A perfect market may be defined as a market where neither the sellers nor buyers can influence the prices of goods and services because they are many in number.
It is also called competitive market or perfect competition. In such a market,...
An imperfect market may be defined as any market structure where either the buyers or the sellers can influence the prices of goods and services because they are few in number. An imperfect market deals in different products....
In general, price discrimination occurs when a producer sells a commodity to different buyers at different prices for reasons not associated with differences in cost.
For example, doctors, lawyers and engineer sometimes vary their fees according to the incomes of their clients....
A bank may be defined as a financial institution set up purposely for safe-keeping of money, valuable goods and documents like wills and others. The existence of banks has been a big boost to business activities theworld over....
Money is any tangible commodity which is generally acceptable as a medium of exchange for goods and services or for purposes of settling debts within a given society/community....
Inflation is a worldwide phenomenon but the rate varies from country to country.
Nigeria has been experiencing a high rate of inflation estimated to be well over 45%. Despite the various measures adopted to control inflation it has defied solutions....
A mortgage bank is specifically set up for the purpose of providing long-term loans for building houses. E.g. Federal Mortgage Bank or Imani Mortgage Finance Ltd....
Perfect Competition may be defined as many small firms manufactures and supplies the same goods (or perfect substitute) to the end-user while Monopolistic Competition is type of market where there are a handful of sellers offer a particular product leading to...
What is Financial Institutions? Financial institutions are business organizations which deal in money, though some may deal in other financial assets such as shaves, letters of credit, bills of exchange etc. With the exception of the Central Bank, they make profits...
Development bank may be defined as a financial institution set up purposely to offer long term loans meant for development projects while commercial bank may be defined as a financial institution which carries out retail banking services, set up for keeping...
A Central Bank is a National Government owned apex financial institution which controls and supervises the entire monetary system of a country. It assists, directs and regulates the activities of other financial institutions to make them comply with government monetary and...
Monopoly may be defined as a market situation where there is only one producer or supplier of a particular commodity that has no substitute and who has the power to influence the price of the commodity to his own favour. The...
Financial Institutions are business organizations which deal in money, though some may deal in other financial assets such as shaves, letters of credit, bills of exchange etc. With the exception of the Central Bank, they make profits by trading in money;...
A merchant bank is a ‘wholesale bank’ which deals in large sums of money and whose main functions are: issuing of shares and dealing in discounting and acceptance of bills....
Insurance Company Meaning An insurance company is a financial institution whose primary function is to receive premiums and enter into contract with individuals and organizations (the insured) with the purpose of indemnifying (pay compensation to) the insured if they suffer certain...
A cheque may be defined as an instruction in writing made upon a bank to pay a given sum of money to a named person or bearer, at a specific date only those who operate current accounts in commercial banks make...
Trade by barter is the direct exchange of goods for goods, goods for services, or services for services. It was a system of exchange which was in use before the introduction of money....
Inflation refers to a persistent and sustained rise in the general price level. A general phenomenon during a period of inflation is a continuous fall of the value of money in the economy....
